MNI BRIEF: BOJ To Raise Rate Cautiously - Ueda

MNI BRIEF: BOJ Keeps Economic, Major Components View

MNI BRIEF: China-Germany To Deepen Green Cooperation

CHINA PRESS: China Inclusive Finance-Prosperity Index Up In February

MNI China Press Digest March 19:HKE, Inclusive Finance, Stocks

MNI: PBOC Net Injects CNY120.5 Bln via OMO Wednesday

MNI: EUROZONE FEB FINAL HICP +0.4% M/M, +2.3% Y/Y

MNI: UK DEC-FEB MEDIAN PAY AWARDS +3% :Brightmine

MNI JAPAN JAN CORE MACHINE ORDERS -3.5% M/M; DEC -0.8%

GERMANY: Handelsblatt Report on Lingering Uncertainties Ahead of Bundestag

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MEXICO: USDMXN Probing 2025 Low, Attention on Upcoming Ebrard Comments

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Despite the firmer greenback in the aftermath of the US PPI data, USDMXN has been creeping lower, sitting just above the key support at 20.1343, of which a test below would see spot reach a new low for 2025. On the downside, immediate attention turns to the December low at 20.0219, with greater downside momentum targeting 19.7618, the Nov 7 low.
  • Resistance moves down to the 20- and 50-day moving averages, intersecting around the 20.40 mark.
  • Banorte continue to see value in tactical USDMXN longs, and suggest buying dips around the 20.20 area, a level that has served as strong peso resistance. They note the tariff situation continues to provide an environment of potential episodes of volatility, coupled with a lower attractiveness for carry and a very low net long positioning.
  • As noted, the domestic focus on Thursday rests on President Sheinbaum’s daily press briefing, where Economy Minister Ebrard is scheduled to provide an update on the trade discussions between US/Mex officials.
159 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Despite the firmer greenback in the aftermath of the US PPI data, USDMXN has been creeping lower, sitting just above the key support at 20.1343, of which a test below would see spot reach a new low for 2025. On the downside, immediate attention turns to the December low at 20.0219, with greater downside momentum targeting 19.7618, the Nov 7 low.
  • Resistance moves down to the 20- and 50-day moving averages, intersecting around the 20.40 mark.
  • Banorte continue to see value in tactical USDMXN longs, and suggest buying dips around the 20.20 area, a level that has served as strong peso resistance. They note the tariff situation continues to provide an environment of potential episodes of volatility, coupled with a lower attractiveness for carry and a very low net long positioning.
  • As noted, the domestic focus on Thursday rests on President Sheinbaum’s daily press briefing, where Economy Minister Ebrard is scheduled to provide an update on the trade discussions between US/Mex officials.